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Soros urges proactive German role for resolution of 'nightmare' euro crisis

There is a “real danger of the "nightmare" eurozone crisis “destroying” the European Union, which is being pushed into a “lasting depression”, influential fund manager George Soros warned on Monday, Reuters reported.

Speaking at a luncheon hosted by the National Association for Business Economics, the veteran financier urged Germany to resolve the “entirely self-created" crisis by “playing the role of the benevolent hegemon" - whereby, he suggested, Berlin offers “greater commitment” to helping its own interests as well as those of the debtor nations in the single-currency bloc.

Otherwise, Berlin should quit the eurozone, which will lead to the problem “disappearing in thin air", Soros said.